Africa Health Firms Gain Backing from IFC, Gates Foundation

The International Finance Corp., Bill & Melinda Gates Foundation and other partners will jointly establish a private equity fund, which will support small- and medium-sized private health firms in sub-Saharan Africa. The fund, which is administered by Aureos Capital, has so far mobilized $57 million and is looking at increasing its resources to as much as $120 million within a year. According to

, the African Development Bank and Deutsche Investitions-und Entwicklungsgesellschaft will also contribute to the fund.